Rambus Director Sells $244,565 in Stock (RMBS)
Rambus (NASDAQ:RMBS) Director David A. Shrigley sold 20,500 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $11.93, for a total value of $244,565.00. Following the completion of the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at approximately $747,331. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Rambus (NASDAQ:RMBS) traded down 3.76% during mid-day trading on Thursday, hitting $11.51. The stock had a trading volume of 845,757 shares. Rambus has a 52 week low of $7.95 and a 52 week high of $14.82. The stock’s 50-day moving average is $13.75 and its 200-day moving average is $11.38. The company’s market cap is $1.317 billion.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 21st. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.11. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $76.00 million. During the same quarter last year, the company posted $0.06 earnings per share. Rambus’s revenue was up 32.1% compared to the same quarter last year. Analysts expect that Rambus will post $0.21 EPS for the current fiscal year.
A number of analysts have recently weighed in on RMBS shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rambus in a research note on Tuesday, July 22nd. They now have a $17.00 price target on the stock, up previously from $16.00. Separately, analysts at Jefferies Group raised their price target on shares of Rambus from $14.00 to $15.00 in a research note on Tuesday, July 22nd. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Rambus from $15.00 to $15.50 in a research note on Friday, July 18th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.05.
Rambus Inc is a technology solutions company. The Company’s divisions include Memory and Interfaces Division, Cryptography Research Division and Labs.
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